Extrajudicial Settlement Among Heirs With Waiver Provision.doc

EXTRAJUDICIAL SETTLEMENT AMONG HEIRS

KNOWN BY ALL MEN THESE PRESENTS: This Extrajudicial Settlement of Estate, made and executed in ___[Place] ____ on ____[Date] ____ by and among: ______[Name]___ Filipino of legal age, single /married/widowed residing at ___[Address] ____ ______[Name]___ Filipino of legal age, single /married/widowed residing at ___[Address] ____ ______[Name]___ Filipino of legal age, single /married/widowed residing at ___[Address] ____ WITNESSETH: 1.

That the above-named parties are the sole heirs of ___ [Name of Decedent] __, being the latter’s legitimate children and surviving spouse, respectively.

2.

The __[Name of Decedent] _ passed away on _[Date] __ , and at the time of his death, was residing at ____[Place] ____;

3.

That the decedent left no will;

4.

That to the best knowledge and information of the parties hereto, the said deceased left no debts;

5.

That the said deceased, at the time of his death, owned the following properties: (a) a one-half pro-indiviso share of a ( ____ sq.m) real property situated in (situs of property), and covered by Transfer Certificate of Title (TCT) No. __________ of the Register of Deeds of [Place], registered in Book T-_____, Page ______, together with all the existing improvements thereon consisting of [a house of strong materials]. (b) [insert additional properties, properly described] . (c) [insert additional properties, properly described] .

6.

That no personal properties are involved in this extrajudicial settlement;

7.

That by agreement between the parties herein, the entire interest of the decedent in the above-described properties

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shall be divided and settled among them in the following manner, to wit: state fractional interest of each party: 1/3 to [name] 1/3 to [name] 8.

[Name of heir], do hereby hereby waive and adjudicate his/her share as heir equivalent to [1/3] of the estate of his/her late spouse, and that of her own share in the said property as part owner of the conjugal partnership, in favor of his/her children, [Name of children], so that full ownership of his/her said share and participation in the above-described properties may now be consolidated in favor of his/her children, who will now be the sole and absolute co-owners of the whole property above-described.

IN WITNESS WHEREOF, the parties have hereunto set their hands this _____ day of ___ [Month, Year] ____ at ____[Place] ____ .

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Signed in the presence of: ____________________

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ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES) CITY OF DAVAO ) S.S. BEFORE ME, a Notary Public for and in the City of __ [Place] _, Philippines this __ [Date] _personally appeared the following: Names

ID No.

Date/Place Issued

known to me and to me known to be the same persons who executed the foregoing Extrajudicial Settlement Among Heirs consisting of three (3) pages including this page, and they acknowledged to me that the same is their free and voluntary act and deed. WITNESS MY HAND AND NOTARIAL SEAL at the place and on the date first herein above written. 2

Notary Public Doc. No. ____; Page No. ____; Book No. ____; Series of _____.

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